State of New Jersey Common Pension Fund D Lowers Position in Heritage Commerce Corp (NASDAQ:HTBK)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 3.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 265,905 shares of the financial services provider’s stock after selling 10,382 shares during the period. State of New Jersey Common Pension Fund D owned 0.43% of Heritage Commerce worth $2,627,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Heritage Commerce by 185.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 3,155 shares in the last quarter. nVerses Capital LLC bought a new stake in Heritage Commerce during the 3rd quarter valued at $73,000. CWM LLC increased its holdings in shares of Heritage Commerce by 148.0% in the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 5,929 shares during the period. ProShare Advisors LLC bought a new position in shares of Heritage Commerce in the 1st quarter worth $91,000. Finally, One Wealth Advisors LLC purchased a new stake in shares of Heritage Commerce during the 3rd quarter worth $99,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Trading Up 0.5 %

Shares of NASDAQ:HTBK opened at $10.84 on Thursday. The business’s 50-day moving average is $9.89 and its 200 day moving average is $9.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.76. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.01. The firm has a market capitalization of $664.49 million, a P/E ratio of 15.27 and a beta of 0.93.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. On average, research analysts predict that Heritage Commerce Corp will post 0.66 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 4.80%. Heritage Commerce’s payout ratio is currently 73.24%.

Analyst Ratings Changes

Several equities analysts have issued reports on HTBK shares. Keefe, Bruyette & Woods lifted their target price on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research note on Friday, July 26th. Piper Sandler lifted their price objective on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

Heritage Commerce Company Profile

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.